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Did You Know?

More than 50 federal departments and agencies have offered more than 350 prizes, awarding over $64 million.

Prizes can be used to develop ideas, technologies, products or services and to engage.

The median challenge purse in the federal government is $9,500. Not every prize needs a monetary award to be valuable – know your audience!

The Craft of Incentive Prize Design:

How incentive prizes are transforming the innovation landscape and the public sector.

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During recent years, public, private and philanthropic sectors have dramatically increased their use of challenges and prizes, transforming what used to be an exotic innovation tool into a powerful engine of social, economic and technological change. Find out how this shift in thinking around prize design is quickly transforming the innovation landscape and the public sector in the report, “The Craft of Incentive Prize Design.”

The findings offer the most significant exploration of prizes to be published in recent years and provide new trend data, practical how-to tips and case studies that can be applied to the public, nonprofit and philanthropic sectors.

This analysis was produced by Doblin, Deloitte Consulting LLP’s innovation practice, in a unique collaboration with Bloomberg Philanthropies, the Case Foundation, the Joyce Foundation, the Knight Foundation, the Kresge Foundation and the Rockefeller Foundation.